Free Trial

Trend is your friend: *RES 4:...>

EURO-STERLING TECHS: Trend is your friend:
*RES 4: 0.9108 High Jan 3 and major resistance
*RES 3: 0.9062 High Jan 11
*RES 2: 0.9000 Psychological round number
*RES 1: 0.8976 High Jun 26 and bull trigger
*PRICE: 0.8971 @ 15:21 GMT June 27
*SUP 1: 0.8929/16 200-hma/Low Jun 25
*SUP 2: 0.8873 Low Jun 20
*SUP 3: 0.8851 Low Jun 7
*SUP 4: 0.8839/30 100-wma/Low Jun 6
EURGBP maintains an outright bullish tone having recently held above it's 20-day
EMA. The cross also printed a fresh trend high yesterday at 0.8976, and a close
above here should extend upside momentum. For bears, the 200-hma & Jun 25 low
are key support at 0.8929/16. Trend support has been defined at 0.8873, a break
of this level would instead signal a bearish reversal.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.